1. Explicit Notice of Non-Affiliation
The official website of the Life Insurance Corporation of India is located at https://licindia.in. For official policy purchases, premium payments, underwriting forms, policy servicing, and binding contract documents, please visit the official LIC website or an authorized LIC branch office.
2. Informational & Illustrative Purpose Only
All premium estimates, maturity returns, tax projections, cash surrender values, loan eligibility figures, and revival fee calculations displayed on MyLICCalculator.com are provided strictly for educational, informational, and illustrative purposes.
While every technical and mathematical effort has been made to align our calculation engines with official LIC premium tables, underwriting circulars, and standard actuarial formulas:
- Calculated values do not constitute a formal insurance proposal, binding quotation, certificate of insurance, or financial contract.
- Actual premiums payable for any individual may vary depending on medical underwriting, smoker status, occupation loading, family medical history, and specific underwriting decisions made by LIC of India at the time of proposal scrutiny.
- In the event of any discrepancy between calculations generated on this website and official figures issued by an authorized LIC branch or LIC's central underwriting engine, the official records of LIC of India shall always prevail.
3. Bonus Rates & Future Return Variability
Life insurance policies with profits (participating policies such as Jeevan Labh 936, New Endowment 914, Jeevan Umang 945, and New Jeevan Anand 915) depend heavily on bonus additions declared by LIC of India:
- Historical Bonus Assumptions: Simple Reversionary Bonuses (SRB) and Final Additional Bonuses (FAB) utilized in our calculators are based on historical valuation surplus declarations released by LIC in recent valuation reports (2024–2026).
- No Guarantee of Future Bonuses: Future bonus declarations are entirely contingent on LIC's annual actuarial valuation, operational surplus, investment returns, mortality experience, and macro-economic conditions. Bonuses are NOT guaranteed by law or contract, except where explicitly stated as Guaranteed Additions (GA) in non-participating plans (such as Bima Jyoti 860 or Jeevan Utsav 871).
- Illustrative Returns: Any total maturity estimate representing the sum of Basic Sum Assured + Vested Bonus + Final Additional Bonus is purely illustrative.
4. No Financial, Tax, or Legal Advisory
The content, tools, tables, and comparison charts available on MyLICCalculator.com do not constitute financial advice, investment advice, legal advice, or tax planning advice under the Insurance Act, 1938 or IRDAI regulations.
- Taxation References: Mentions of deductions under Section 80C or tax exemptions under Section 10(10D) of the Income Tax Act, 1961 reflect general statutory guidelines. Recent amendments (such as the ₹5,00,000 aggregate annual premium threshold for policies issued on or after April 1, 2023) may alter taxability for high-net-worth policyholders. Users must consult a certified Chartered Accountant or qualified tax advisor regarding their specific tax liabilities.
- Suitability Assessment: Selecting an appropriate life insurance policy requires assessing personal risk appetite, financial liabilities, family dependencies, and cash flow requirements. Users are strongly encouraged to consult a licensed IRDAI insurance advisor before committing capital.
5. Surrender Values & Policy Loan Estimates
Calculations performed by our Surrender Value Calculator and Policy Loan Calculator are mathematical approximations based on:
- Standard Guaranteed Surrender Value (GSV) percentages and historical Special Surrender Value (SSV) factor tables.
- Standard policy loan limits (up to 90% of surrender value for active in-force policies, 80% for paid-up policies) and current benchmark loan interest rates (~9.5% p.a.).
- Actual surrender payouts and sanctionable loan amounts are computed exclusively by LIC's internal policy servicing systems, taking into account precise dates of premium payment, unpaid dues, outstanding loans, and current policy status.
6. Trademarks, Brand Names & Fair Use
"LIC", "Life Insurance Corporation of India", "Jeevan Labh", "Jeevan Umang", "Jeevan Anand", "Bima Jyoti", "Jeevan Utsav", and other policy names, logos, Table designations, and emblems referenced on this website are registered trademarks, trade names, or proprietary marks of the Life Insurance Corporation of India.
Any reference to these trademarks, product names, or table numbers on MyLICCalculator.com is made strictly for nominative fair use to accurately describe, identify, and explain policy features for public consumer calculation and educational purposes. MyLICCalculator.com claims no ownership or proprietary right in any third-party marks.
7. Limitation of Liability
To the maximum extent permitted by applicable law, MyLICCalculator.com, its developers, authors, contributors, and operators shall NOT be held liable for any direct, indirect, incidental, consequential, punitive, or special damages, losses, expenses, or lost profits arising from or in connection with:
- The use of or reliance upon any calculation, quote, estimate, schedule, or information published on this website.
- Any mathematical, typographical, or computational inaccuracies or omissions.
- Any financial, investment, or insurance decisions made based on figures presented on this portal.
- Any interruption, technical delay, downtime, or inability to access the website or its tools.
Users assume sole and total responsibility for verifying all numbers with official LIC documentation and authorized representatives before executing any policy purchase, surrender, loan application, or alteration.
📩 Inquiries Regarding This Disclaimer
If you have questions, feedback, or require clarification regarding the terms outlined in this disclaimer, please reach out to:
Email: legal@myliccalculator.com
Effective Date: October 2026